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THE HOWA BANK,LTD., First Half Ordinary Profit Increases by 2.1 times, Exceeds Full-Year Plan

Tue Nov 12, 2024 3:00 pm JST Earnings

8559 THE HOWA BANK,LTD. 【J-GAAP】

Earnings Report

THE HOWA BANK,LTD. <8559> [FukuokaSE] announced its financial results in the afternoon session on November 12th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.1 times that of the same period last year, reaching 1 billion yen. The progress rate against the full-year plan of 890 million yen is 112.8%, already exceeding the target and also exceeding the four-year average of 80.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 114 million yen (compared to a profit of 215 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the ordinary profit/loss turned to a profit of profit of 515 million yen (compared to a loss of 191 million yen in the same period last year).

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 4,791 ー 530 474 80.5 36.4 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 5,387 ー 467 321 54.6 68.5 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 5,433 ー 1,004 888 150.7 112.8 Nov 12, 2024 J-GAAP
YoY +0.9% － +115.0% +176.6% +175.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー 1,000 880 149.3 0 Nov 1, 2024 J-GAAP
Apr - Sep, 2024 Results 5,433 ー 1,004 888 150.7 0 Nov 12, 2024 J-GAAP
Revision Rate － － +0.4% +0.9% +0.9%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 5,078 ー 215 556 53.2 10 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance ー ー -114 -228 -22.7 10 Nov 12, 2024 J-GAAP
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,886 ー 1,456 1,302 159.6 10 May 11, 2023 J-GAAP
Mar, 2024 10,465 ー 682 877 83.9 10 May 14, 2024 J-GAAP
Mar, 2025 Guidance ー ー 890 660 65.7 10 May 14, 2024 J-GAAP
YoY － － +30.5% -24.7% -21.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,579 ー -191 -299 -50.9 0.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 2,973 ー 529 579 98.2 0.0 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 2,105 ー -314 -23 -2.2 0.0 May 14, 2024 J-GAAP
Apr - Jun, 2024 2,706 ー 489 481 81.7 0.0 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,727 ー 515 407 69.1 0.0 Nov 12, 2024 J-GAAP
YoY +5.7% － － － －

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